Mises Daily
Author:
Douglas French
Online Publish Date:
economy. Of course the fact is that the current funk is the result of Keynesian policies, and more of it will just prolong the downturn. But it wasn’t so long ago of all types, Schumpeter believed that capitalism is driven by entrepreneurs whose innovations replace old worn-out business models in a process he called “creative according to Harvard business professor Thomas K. McCraw, author of Prophet of Innovation: Joseph Schumpeter and Creative Destruction . And the lives of the two